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Novagold Resources New (NG) AI Stock Analysis
Novagold Resources New
(NYSE MKT:NG)
NG scores 51 primarily due to weak financial fundamentals (pre-revenue, ongoing losses, and continued cash burn) and a bearish technical trend (price below key moving averages with negative MACD). These are partially offset by a constructive earnings call focused on progressing the Donlin Gold consolidation and project milestones, supported by a sizable treasury, though higher spending and approval/permitting execution risk remain key constraints.
Novagold Resources New (NG) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $2.52B
- Dividend Yield
- ―
- Average Volume (3M)
- 4.99M
- Price to Earnings (P/E)
- -26.3
- Beta (1Y)
- 1.87
- Revenue Growth
- ―
- EPS Growth
- 14.77%
- Country
- US
- Employees
- 12
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Gold
Novagold Resources New Business Overview & Revenue Model
Company Description
NovaGold Resources Inc. (NG) is an enterprise primarily engaged in the discovery and advancement of gold mining properties, with its operational focus predominantly within the United States. A central component of the company's assets is the Donlin G...
How the Company Makes Money
NOVAGOLD does not primarily earn revenue from selling gold because the Donlin Gold project is not in commercial production. Instead, its economic value and potential future earnings are tied to (1) increasing the value of its ownership interest in th...
Novagold Resources New Earnings Call Summary
The call was strongly positive, centered on the proposed consolidation that would give NovaGold 100% ownership of Donlin Gold, the project's large resource and production profile, progress toward the 2027 bankable feasibility study, a robust $343.4 million treasury, permitting progress, and potential financing support. The main negative items were the higher quarterly net loss, increased project and corporate expenditures, elevated transaction-related fees, reduced treasury during the quarter, and the increase in 2026 corporate G&A guidance from $11.5 million to $31.2 million. Highlights significantly outweighed the lowlights.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
The company said the bankable feasibility study remains on track for completion in 2027, with the closing of the proposed transaction expected by the end of the year; 2026 corporate G&A guidance was increased from $11.5 million to $31.2 million, legal and professional fees are expected to remain elevated for the balance of fiscal 2026 and into early 2027, and the $343.4 million treasury is expected to cover corporate G&A costs for at least the next 12 months. Donlin Gold is projected to produce approximately 1.1 million ounces per year over its 27 year mine life, 1.3 million ounces annually in the first 10 years of production, and over 1 million ounces annually over its 27 year mine life; the transaction adds approximately 16 million ounces of indicated resources, including 13 million ounces in proven and probable reserves, and boosts attributable annual production by over 520 thousand ounces during the first decade. With gold prices above $4 thousand an ounce, projected value is over $50 billion at a 0% discount rate or approximately $20 billion at a 5% discount rate; the final EIS is anticipated in April 2027, dam safety certificates are expected in 2028, and Dr. Kaplan said gold will reach $5 thousand and could go into the tens of thousands.
Novagold Resources New Financial Statement Overview
Summary
Financial performance is weak: the company remains pre-revenue with persistent, sizable losses (TTM net loss about $91M; TTM EBIT about -$107M) and consistently negative free cash flow (TTM FCF about -$46M). The balance sheet adds risk due to meaningful leverage and prior periods of negative equity, even though FY2025 equity returned positive and the company has a material asset base.
Income Statement
12Very NegativeBalance Sheet
28NegativeCash Flow
18Very Negative| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | -25.34K | -25.38K | -21.40K | -9,957 | -6,753 | -6,864 |
| EBITDA | -27.18M | -79.00M | -29.28M | -33.55M | -16.64M | -17.50M |
| Net Income | -91.48M | -94.66M | -44.38M | -46.60M | -51.47M | -39.75M |
Balance Sheet | ||||||
| Total Assets | 573.29M | 335.91M | 109.75M | 133.29M | 159.19M | 198.85M |
| Cash, Cash Equivalents and Short-Term Investments | 343.39M | 115.14M | 101.12M | 125.75M | 125.88M | 169.12M |
| Total Debt | 178.14M | 166.30M | 152.45M | 137.55M | 124.63M | 116.13M |
| Total Liabilities | 186.03M | 172.12M | 157.17M | 141.51M | 129.29M | 120.57M |
| Stockholders Equity | 387.25M | 163.79M | -47.42M | -8.22M | 29.90M | 78.28M |
Cash Flow | ||||||
| Free Cash Flow | -45.62M | -38.69M | -12.64M | -7.79M | -12.37M | -9.66M |
| Operating Cash Flow | -45.62M | -38.69M | -12.64M | -7.79M | -12.37M | -9.86M |
| Investing Cash Flow | -7.22M | -177.65M | 9.36M | -10.33M | -12.36M | 40.39M |
| Financing Cash Flow | 75.41M | 40.92M | -174.00K | 0 | -2.12M | -731.00K |
Novagold Resources New Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NG, the sentiment is Negative. The current price of 5.75 is below the 20-day moving average (MA) of 6.30, below the 50-day MA of 7.08, and below the 200-day MA of 8.20, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 35.01 is Neutral, neither overbought nor oversold. The STOCH value of 16.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NG.
Novagold Resources New Risk Analysis
Novagold Resources New disclosed 31 risk factors in its most recent earnings report. Novagold Resources New reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskNovagold Resources New Peers Comparison
Overall Rating
TSE:KNT90Outperform
TSE:TXG82Outperform
TSE:SSRM77Outperform
TSE:SEA54Neutral- NG51Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:KNT | 90Outperform | CAD 6.18B | 11.90 | 43.29% | ― | 62.48% | 65.19% |
| TSE:TXG | 82Outperform | CAD 6.05B | 7.20 | 25.62% | 0.97% | 75.86% | 161.88% |
| TSE:SSRM | 77Outperform | CAD 7.62B | 17.80 | 7.75% | 0.11% | 46.87% | 42.18% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| TSE:SEA | 54Neutral | CAD 3.63B | 114.17 | 3.10% | ― | ― | ― |
| NG | 51Neutral | $2.58B | -26.32 | -25.84% | ― | ― | 14.77% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| NG | Novagold Resources Inc | 5.75 | -2.13 | -27.03% | |
| TSE:SEA | Seabridge Gold | 32.88 | 1.70 | 5.47% | |
| TSE:SSRM | Ssr Mining | 36.56 | 9.10 | 33.12% | |
| TSE:KNT | K92 Mining | 24.44 | 6.36 | 35.18% | |
| TSE:TXG | Torex Gold | 63.64 | 7.12 | 12.59% |
Novagold Resources New Corporate Events
Novagold Issues Supplemental Disclosures on Donlin Gold Deal
PositiveOn July 21, 2026, NOVAGOLD Resources Inc. agreed to a series of transactions under which a new Delaware holding company, NovaGold Corporation, would become the ultimate parent of NOVAGOLD and acquire Paulson Advisers’ 40% stake in Donlin Gold L...
Novagold Resources Sets Shareholder Vote on Restructuring Deal
PositiveOn July 22, 2026, NOVAGOLD agreed to a set of definitive transaction agreements under which NovaGold Corporation would become the new parent company and acquire the 40% stake in Donlin Gold LLC held by Paulson Advisers, raising NOVAGOLD’s owner...
New NovaGold Reorganization to Fully Control Donlin Gold
PositiveOn July 22, 2026, NOVAGOLD announced a series of definitive agreements for a reorganization in which New NovaGold, a newly formed Delaware corporation, will acquire all NOVAGOLD shares via a court-approved arrangement under British Columbia law. Each...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 24, 2026